WASHINGTON (dpa-AFX) - Gold futures settled higher on Monday on safe-haven buying amid rising geopolitical tensions, and on hopes the stimulus measures announced by China last week will help revive growth in the world's second largest economy.
The dollar's strength on bets the Federal Reserve will likely keep interest rates higher for a longer time, limited the yellow metal's upside. Still, there are some expectations that the Fed might cut interest rates in September and November.
The dollar index, which climbed to 104.65 in early New York session, was last seen hovering around 104.55, up 0.1% from the previous close.
Gold futures for May ended higher by $21.70 or about 0.9% at $2,433.90 an ounce.
Silver futures for May ended up by $1.1580 or nearly 3.75% at $32.205 an ounce. Copper futures climbed to $5.1090 per pound, gaining $0.0590 or about 1.1%.
The European Central Bank is expected to move cautiously after delivering its first rate cut in June.
Bank of England Governor Andrew Bailey hinted at possible rate cuts as soon as next month.
Meanwhile, analysts say that the helicopter crash involving Iranian President Ebrahim Raisi and officials may escalate tensions in the Middle East, impacting Iran's geopolitical relations.
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